Global Wagyu Beef Market, By Product Type (Japanese Breed, Australian Breed, Cross Breed and Others), Applications (Direct To Human Use, Industrial Use), Nature (Organic, Conventional), Distribution Channels (Online, Retail) – Industry Trends and Forecast to 2029
Market Analysis and Size
Consumer eating habits are changing as people become more self-aware and health-conscious and willing to spend more money on high-quality food products containing essential nutrients. Furthermore, rising population and rising consumer disposable income are key factors driving the wagyu beef market.
Data Bridge Market Research analyses that the wagyu beef market which was growing at a value of 2.21 billion in 2021 and is expected to reach the value of USD 3.66 billion by 2029, at a CAGR of 6.50% during the forecast period of 2022-2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, patent analysis and consumer behaviour.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2014 - 2019)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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Product Type (Japanese Breed, Australian Breed, Cross Breed and Others), Applications (Direct To Human Use, Industrial Use), Nature (Organic, Conventional), Distribution Channels (Online, Retail)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, Sweden, Poland, Denmark, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, UAE, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
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Market Players Covered
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Black Hawk Farms (U.S.), Australian Agricultural Company Limited (Australia), Starzen Co., Ltd. (Japan), Imperial Wagyu Beef (U.S.), Toriyama Umami Wagyu (Japan), Mishima Reserve (U.S.), Snake River Farms (U.S.), Blackmore Wagyu (U.S.), Lone Mountain Cattle Company (U.S.), K.C. Cattle Company (U.S.), Nebraska Star Beef (U.S.), Middle East Fuji L.L.C. (UAE), Tajimaya UK ltd. (U.K.), Holy Grail Steak Co. (U.S.), DeBragga and Spitler (U.S.), Chicago Steak Company (U.S.), Creek Bed Country Farmacy, L.L.C. (U.S.), The Butcher's Market (U.S.), West Coast Prime Meat (U.S.)
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Opportunities
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Market Definition
Wagyu beef is a Japanese beef cattle breed that has been modified from Asian cattle. It has distinct characteristics that make it more tender and flavourful than other types of beef. Consumer eating habits are changing as people become more self-aware and health-conscious, and they are willing to spend more money on high-quality products containing essential nutrients.
Wagyu Beef Market Dynamics
Drivers
- Various health benefits associated with consumption of wagyu beef
Aside from its high tenderness and enriched flavour, wagyu beef is gaining popularity among consumers due to a variety of health benefits. Wagyu beef consumption is regarded as a healthy alternative in a balanced diet. Wagyu beef has the highest concentration of omega-3 fatty acids and the highest proportion of mono-unsaturated fats. This helps to protect against Alzheimer's disease, heart disease, depression, arthritis, and high blood pressure.
- The growing trend of exotic meals as well as high prevalence of five star restaurants
Wagyu beef is typically sold in five-star restaurants and symbolizes the fine-dining culture. Due to the continuous innovations and menu customization for people, the foodservice market has recently grown at a tremendous rate. The growing demand for nutritious and high-quality meals has forced the hospitality and foodservice industries to change their offerings. Furthermore, companies seeking higher profits are investing in marketing campaigns, which is helping to build a platform for the wagyu beef market. Consumers are now spending money on luxury vacations and food services in order to receive higher-quality food products.
Opportunity
As the e-commerce market expands at a rapid pace, manufacturers are being forced to adopt an Omni channel distribution strategy in order to increase revenue. Consumers are increasingly spending time on the internet and engaging in online shopping. Consumers prefer online stores because of their faster delivery options and wide range of products available at competitive prices. Increased internet usage, particularly in developed regions such as North America and Europe, has encouraged players to increase their online presence. The key players collaborate with other popular e-commerce websites to improve their digital presence.
Restraints
However, the high cost of production and high consumer prices limit the growth of the wagyu beef market.
This wagyu beef market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the wagyu beef market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on Wagyu Beef Market
The COVID-19 pandemic impacted beef production, supply chain, and prices, resulting in a severe socioeconomic crisis around the world. Initially, the prices of beef and beef products rose due to lower production and increased demand from panic buying. Later on, however, due to lockdown restrictions and lower consumer purchasing power, both beef production and demand were significantly reduced, resulting in lower beef prices. Furthermore, beef producers and processors had difficulty harvesting and shipping their products because of lockdown situations, reduced labour force, restrictions on animal movement within and across the country, and changes in local and international export market legislation. These conditions harmed the beef industry by reducing beef production, processing, and distribution facilities.
Global Wagyu Beef Market Scope
The wagyu beef market is segmented on the basis of nature, product type, applications and distribution channels. The growth amongst these segments will help you analyse meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Nature
- Organic
- Conventional
Product type
- Japanese Breed
- Australian Breed
- Cross Breed
- Others
Application
- Direct To Human Use
- Industrial Use
Distribution channel
- Online
- Retail
Wagyu Beef Market Regional Analysis/Insights
The wagyu beef market is analysed and market size insights and trends are provided by country, form, product type, end-use, and distribution channel as referenced above.
The countries covered in the wagyu beef market report are U.S., Canada and Mexico in North America, Germany, Sweden, Poland, Denmark, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, UAE, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
The Asia-Pacific region currently dominates the wagyu beef market because Japan is the largest manufacturer and consumer of various types of wagyu beef, particularly full blood and wagyu. In Japan, approximately 80% of the population consumes wagyu on a regular basis. As the food service sector expands, the Japanese engage in extensive promotional activities to ensure high reach and value sales. Due to their status as the world's largest exporters of wagyu beef, Australia, the United States, and Canada are expected to grow rapidly during the forecast period.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Wagyu Beef Market Share Analysis
The wagyu beef market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to wagyu beef market.
Some of the major players operating in the wagyu beef market are:
- Black Hawk Farms (U.S.)
- Australian Agricultural Company Limited (Australia)
- Starzen Co., Ltd. (Japan)
- Imperial Wagyu Beef (U.S.)
- Toriyama Umami Wagyu (Japan)
- Mishima Reserve (U.S.)
- Snake River Farms (U.S.)
- Blackmore Wagyu (U.S.)
- Lone Mountain Cattle Company (U.S.)
- K.C. Cattle Company (U.S.)
- Nebraska Star Beef (U.S.)
- Middle East Fuji L.L.C. (UAE)
- Tajimaya UK ltd. (U.K.)
- Holy Grail Steak Co. (U.S.)
- DeBragga and Spitler (US)
- Chicago Steak Company (U.S.)
- Creek Bed Country Farmacy, L.L.C. (U.S.)
- The Butcher's Market (U.S.)
- West Coast Prime Meat (U.S.)
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